Teacher Retirement System of Texas Sells 34,062 Shares of G-III Apparel Group, LTD. (NASDAQ:GIII)

Teacher Retirement System of Texas trimmed its position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,846 shares of the textile maker's stock after selling 34,062 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.12% of G-III Apparel Group worth $1,500,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GIII. AlphaQuest LLC purchased a new position in shares of G-III Apparel Group during the fourth quarter valued at approximately $49,000. Public Employees Retirement System of Ohio purchased a new position in shares of G-III Apparel Group during the fourth quarter valued at approximately $68,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of G-III Apparel Group by 18.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker's stock valued at $117,000 after purchasing an additional 564 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of G-III Apparel Group during the fourth quarter valued at approximately $172,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of G-III Apparel Group during the fourth quarter valued at approximately $215,000. 92.13% of the stock is owned by institutional investors.

Insider Activity

In other G-III Apparel Group news, Director Amigo Victor Herrero acquired 5,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was purchased at an average price of $21.95 per share, with a total value of $109,750.00. Following the transaction, the director directly owned 54,746 shares in the company, valued at approximately $1,201,674.70. The trade was a 10.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.00% of the stock is currently owned by insiders.

G-III Apparel Group Trading Up 0.9%

NASDAQ:GIII traded up $0.22 during trading hours on Friday, reaching $23.97. The company had a trading volume of 540,464 shares, compared to its average volume of 577,845. G-III Apparel Group, LTD. has a 52 week low of $20.33 and a 52 week high of $36.18. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 5.55 and a beta of 1.38. The firm's 50 day moving average price is $24.96 and its 200-day moving average price is $26.99.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its earnings results on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. G-III Apparel Group had a net margin of 6.20% and a return on equity of 12.65%. The business had revenue of $583.61 million during the quarter, compared to the consensus estimate of $579.48 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The firm's revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Monday, June 9th. Barclays reduced their price target on shares of G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, June 9th. Telsey Advisory Group reduced their price target on shares of G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating for the company in a research report on Monday, June 9th. KeyCorp reduced their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. Finally, Wall Street Zen downgraded shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, June 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $27.80.

G-III Apparel Group Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.